How to start a NASCAR Cup Series team

Being a team owner can be a thrilling experience on the NASCAR circuit. With NASCAR’s rising recognition and popularity, the prospect of a financial investment seems all the more intriguing, but at the same time, it asks the question of how a team is formed.

Starting a new NASCAR team involves very systematic and calculated decision-making. Motorsports is an expensive affair, bringing us to the first step: finding a wealthy benefactor.

Running a one-car NASCAR Cup Series team can cost roughly $20 million. Finding a benefactor and aligning them with your vision is vital, but it doesn't end there. Sponsorship deals and partnering with brands are crucial for meeting the regular expenses that go into running a team. Expenses range from acquiring the car, equipment for the car, salaries, and operational costs to travel and lodging for the crew throughout the season, costs for damages, repairs, and legal counsel.

Once the finances are in order, the next step involves putting together a proficient team. This involves a general manager, crew chiefs, car chiefs, technicians, a pit crew, and race engineers. Acquiring the right people for the right roles will make sure that the team runs like a well-oiled engine. Once the team is ready, it is imperative to scout for a competitive driver. Finding the right driver will bring about a sense of cohesiveness in the team, essentially leading to positive results.

The next and final step is strategy. Aiming to drive in the NASCAR Cup Series should be a long-term goal. Starting in the lower series, like the Truck Series or the Xfinity Series will provide the team with experience and exposure, not to mention the recognition that it will indefinitely bring. Taking this path will also provide a basic structure of operational costs, and will accommodate a deeper and better understanding of your finances before the team hits the big leagues.

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Freedom Racing Enterprises debuts in the NASCAR Truck Series

Spencer Boyd and Chris Miller announced the formation of Freedom Racing Enterprises on January 8, 2024. After the closure of GMS Racing in 2023, Freedom Racing Enterprises bought their Chevrolet Silverado trucks and prepped them for the 2024 season. Spencer Boyd has been driving the No. 76 truck throughout the season, with a decent performance at the Daytona International Speedway.

Spencer Boyd at the NASCAR Craftsman Truck Series North Carolina Education Lottery 200 - Qualifying

Greg Ely will take on the role of crew chief, with Jeff Hammond being appointed as the team's general manager. Freedom Warranty, a company owned by Chris Miller, will be the primary sponsor for FRE (Freedom Racing Enterprises), along with Nor-Cal Equipment Rentals, Tibbett's Lumber Co., and Latitude Aero.